Greenspan calls turning point in financial crisis

Former US Federal Reserve chairman Alan Greenspan today hailed the prospect of a turning point in the turmoil that has swept through the world’s financial markets, saying the troubled US housing market that triggered the crisis will begin to recover in the first half of 2009.

10 Oct 2008

Writing exclusively for EuroWeeks sister publication Emerging Markets at the end of the most turbulent fortnight in modern financial history, Greenspan said the recent slowing in the rate of decline in US home prices was the first "positive note in this long term trauma.